Home > Boards > US OTC > Delisted > Revolutionary Concepts Inc. (fka REVO)

Here is part of it it is 66

Public Reply | Private Reply | Keep | Last ReadPost New MsgReplies (3) | Next 10 | Previous | Next
skeet57 Member Profile
 
Followed By 22
Posts 823
Boards Moderated 0
Alias Born 12/11/13
160x600 placeholder
skeet57   Thursday, 06/13/19 10:58:42 PM
Re: skeet57 post# 68184
Post # of 68248 
Here is part of it it is 66 pages long
am a Vice President of Charles River Associates, an internati
onal consulting firm
dedicated to advising clients and counsel in the areas of busin
ess valuation, licensing, and litigation
support services. I was retained by the Securities and Exchang
e Commission (“SEC”) as an
independent valuation expert to review allegedly fraudulent act
s carried out by Solomon RC Ali.
The following summarizes my conclusions to date.

volutionary Concepts, Inc.’s acquisition of Greenwood Finance
Group,
LLC -
On December 7, 2012, Revolutionary Concepts, Inc. and Rainco
Industries, Inc. entered into a Member Interests Purchase Agree
ment through
which Revolutionary Concepts, Inc. acquired Greenwood Finance G
roup, LLC,
which was at the time a subsidiary of Rainco Industries, Inc.
1
Mr. Ali and
Revolutionary Concepts, Inc. fa
iled to disclose the related par
ty-nature of
Revolutionary Concepts, Inc.’s acquisition of Greenwood Finance
Group, LLC
from Rainco Industries, Inc., which is important information fo
r investors and
potential investors to consider when making an investment decis
ion. Investors
should have this information so they can properly evaluate the
significance of the
transaction because related party transactions may not yield ar
m’s-length results.
Also, I have seen no evidence or documented valuations that sup
port Mr. Ali’s
public statements that the acquisition could be valued at great
er than $15 million.
Finally, any valuations performed by Mr. Ali of promissory note
s owned by
Greenwood Finance Group, LLC and
issued by trusts settled by Mr
. Ali and of
which he and members of his family are beneficiaries, represent
s a conflict of
interest which would undermine the objectivity of those valuati
ons.
?
Revolutionary Concept
s, Inc.’s patent license agreement with Ey
etalk365,
LLC -
On February 10, 2014, Revolutionary Concepts, Inc. entered int
o a patent
license agreement with Eyetalk365, LLC through which Eyetalk365
, LLC
obtained exclusive, worldwide rights to six granted patents and
one patent
application owned by Revolutionary Concepts, Inc.
2
Mr. Ali and R

Public Reply | Private Reply | Keep | Last ReadPost New MsgReplies (3) | Next 10 | Previous | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
X
Current Price
Change
Volume
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist